Roxburghe goes into administration

fisherjim

:beer::rotfl::rotfl::rotfl::rotfl::rotfl:

forgotmyname

3/4 million in the red?

Will HFO follow next? -58 million?

HO87

The real question is to what degree Poxburg Roxblagg Poxborg's going into administration is a consequence of the former OFT refusing/voking their DC licence? Have they simply lost customers or are they actually jumping in advance of what others might hope or describe as the inevitable?

The OFT's register (which is maintained as an historic record) currently shows that in January Roxburghe were told of the OFT's determination that their licence would not be renewed (after having told them that they "were minded not to renew" earlier in 2013 - and "were minded to revoke" in 2011 before their then current licence expired).

In a statement the OFT specified the following reasons for refusing to renew the licence:

• Sending debt collection letters which misrepresented debtors' legal position
• Misleading and otherwise inappropriate behaviour by HFO and Roxburghe agents during phone calls to debtors
• Failing to properly investigate disputed debts
• Failure to respond appropriately to the concerns of regulators, including the OFT.

Anyway, back to the story, later in February 2014 - just 3 days before the cut-off - Roxburghe (and the other's - below) lodged an appeal against the OFT's decision with the First Tier Tribunal (Consumer Credit).

Interestingly, I have been able to confirm that the FTT has details of a total of four appellants listed together - or at least as having lodged appeals on the same day. They are of course all connected:

HFO Services Ltd
Roxburghe UK Ltd
HFO Capital Ltd
Alasdair Turnbull (previous director of HFO and Roxburghe)

All the entries are endorsed to the effect "Awaiting regulator's reply".
Although the FTT seems to rattle through cases fairly quickly this one is likely to take some time I would suggest. On that basis I respectfully suggest that Lavender Park Road is likely to see a phoenix.

Or could this really be the end for Roxburghe?

trisontana

So Coupon Mad's favourite ex-bank manger "friend" has lost his job. I bet she's pleased.

The_Deep

trisontana wrote: »

That's two good bits of news I've heard today. The other concerns a thread I first started on MSE back in 2007 concerning a pyramid scheme in the Bristol area. The trial finally finished today with nine women convicted of conning £18m from friends and family.

I wish my friends and family had $18 million to spend on smoke and mirrors, actually it was (according to The Misery), 10,000 gullible people.

trisontana

Pounds not dollars!

HO87

trisontana wrote: »

So Coupon Mad's favourite ex-bank manger "friend" has lost his job. I bet she's pleased.

Yes, it would seem that Steve's gone with everyone else. I wouldn't mind betting, however, that he reappears working for a PPC.

fermi

http://www.credittoday.co.uk/article/17398/online-news/debt-collector-roxburghe-in-administration

Debt collection agency Roxburghe (UK) Limited has entered administration, resulting in 35 redundancies.

Roxburghe had been trading at a loss due to sizeable overheads and the company directors made the decision to place the business into administration.

The company had previously employed 42 staff at its Surrey office, 35 of whom have now been made redundant. Seven staff have been retained to operate the company’s parking ticket collection business, PCN Parking Services, and process and reconcile receipts and collections from all debtors.

Roxburghe operated as collection agency for Talk Talk and the Post Office, and other generalised clients, as well as specialising in parking ticket collections.

Asher Miller and Henry Lan of David Rubin & Partners were appointed as joint administrators of the company on 16 September.

Speaking to Insolvency News, Miller said: “The directors of Roxburghe made the decision to place the company into administration following a period of steady attrition in collections work. The company was unable to adjust its overhead base in response, leading to it trading at a loss.

“We are continuing to trade the business while seeking a sale. We have had several expressions of interest in PCN Parking Services from other collections agencies who may wish to add it as a ‘bolt-on’ to their existing services portfolios.”

In February, Roxburghe, debt purchaser HFO Capital and associated debt collection agency HFO Services Limited, were declared “unfit” by the OFT and refused renewal of their consumer credit licenses.

The companies made an appeal against the Office of Fair Trading’s (OFT) decision not to renew its consumer credit licence, branding the ruling as “unjust”

Umkomaas

Parking Prankster has just put up a short blog on this. I liked in particular the final paragraph of the blog.

Gary Osner was made a director of the British Parking Association Ltd in July 2014. It is not known how the BPA Ltd will react to the news that as well as his company previously being unfit and barred from DVLA access, he can now add insolvency to the impressive list of credentials. Possibly they will make him joint CEO with Patrick Troy.

Quality. :rotfl:

fil_cad

Good riddence, maybe the will start again as poxburghe